Shanghai Electric(601727)

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上海电气Q1净利润飙升145.7%,主营业务毛利额增加|财报见闻
Hua Er Jie Jian Wen· 2025-04-28 13:49
Core Viewpoint - Shanghai Electric reported significant improvement in Q1 2025 performance, with total revenue increasing by 8.06% and net profit soaring by 145.69% compared to the same period last year [1][2]. Financial Performance - Q1 net profit attributable to shareholders reached 292 million yuan, a year-on-year increase of 145.69% [2]. - Total revenue for the quarter was 22.245 billion yuan, reflecting an 8.06% growth from the previous year [2]. - The adjusted net profit after excluding non-recurring items turned from a loss of 1.2 billion yuan last year to a profit of 205 million yuan [1][2]. Profitability and Cash Flow - Basic earnings per share increased to 0.0188 yuan, up 147.37% year-on-year [4][6]. - Operating cash flow improved, with a net outflow of 3.87 billion yuan, a reduction of approximately 30.7 billion yuan compared to the previous year [1][6]. - Investment income for the quarter was 514 million yuan, a 13% increase year-on-year, with significant contributions from joint ventures [6]. Business Structure and Efficiency - The company’s main business revenue and gross profit increased, enhancing overall performance, particularly in the fields of new energy and intelligent manufacturing [1][5]. - Inventory rose from 3.455 billion yuan to 3.963 billion yuan, indicating increased project advancement and stockpiling [6]. - Accounts receivable remained stable, suggesting effective collection efforts, while the reduction in pledged funds from 26.2 billion yuan to 16.4 billion yuan reflects efforts to optimize asset structure [6]. Asset and Liability Management - As of the end of Q1 2025, total assets stood at 300.474 billion yuan, a slight decrease of 0.67% from the previous year [7]. - Shareholder equity increased by 0.69% to 53.559 billion yuan, indicating a healthy financial structure [7]. - Short-term borrowings slightly increased, but overall liquidity pressure remains due to substantial current liabilities [7]. Industry Position and Strategic Outlook - Shanghai Electric is a leading comprehensive equipment manufacturing group in China, with a focus on energy equipment, industrial equipment, and integrated services [8]. - The company is actively expanding into new energy and high-end equipment manufacturing sectors to address challenges and opportunities arising from energy transition and industrial upgrades [8].
上海电气(02727) - 2024 - 年度财报


2025-04-28 09:34
Financial Performance - The total revenue for 2024 reached ¥1,161.86 billion, representing a year-on-year increase of 1.2%[8] - The net profit attributable to shareholders for 2024 was ¥7.52 billion, with a basic earnings per share of ¥0.048[8] - In 2023, the company's revenue was RMB 114,797 million, a decrease of 2.4% compared to 2022's RMB 117,623 million[40] - The pre-tax profit for 2023 was RMB 3,813 million, a significant recovery from a loss of RMB 1,711 million in 2022[40] - The net profit attributable to shareholders in 2023 was RMB 803 million, compared to a loss of RMB 3,302 million in 2022[40] - The gross profit margin for 2024 was reported at 18.6%[8] - Net profit attributable to shareholders decreased by 6.3% to 752.48 million from 803.35 million[42] - Revenue grew by 1.2% to 116.19 billion compared to 114.80 billion in the prior year[42] - Operating cash flow increased significantly by 127.3% to 17.64 billion from 7.76 billion[42] Market and Orders - New orders for the company amounted to ¥1,536.0 billion, an increase of 11.9% year-on-year[11] - In the energy equipment sector, new orders totaled ¥891.0 billion, including ¥326.2 billion for coal-fired power equipment and ¥78.9 billion for nuclear power equipment[11] - The company has expanded its market presence in various sectors, including aerospace, high-speed rail, and medical equipment[18] - The company is actively participating in national key projects, focusing on core technologies to support national strategic needs[12] Research and Development - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency and sustainability[5] - Research and development expenses increased by 5.51% to RMB 5.665 billion compared to the previous year[129] - The company’s subsidiary won the second prize in the National Science and Technology Progress Award for its core technology in large-capacity lithium-ion battery manufacturing[22] - The company achieved a 25 g/kWh reduction in coal consumption for its coal-fired units through the implementation of advanced heating and efficiency improvement technologies[139] Corporate Governance - The company is focused on maintaining compliance with regulatory requirements during the transition of its board and management[51] - The company has a strong emphasis on governance and oversight, as evidenced by the roles of independent directors and the supervisory board[56] - The company is committed to enhancing its corporate governance structure to align with best practices in the industry[57] - The board consists of eight directors, including three executive directors and three independent non-executive directors, with a third of the board being independent[89][90] Sustainability and Environmental Initiatives - The company is committed to implementing a carbon management service platform to systematically promote green and low-carbon management practices[30] - The company is committed to green and low-carbon development, aligning with national carbon neutrality goals[87] - The company emphasizes sustainable development as a key strategic focus, promoting circular economy and resource efficiency[195] - The company is actively developing clean energy and green technologies, focusing on ultra-low and near-zero emissions[195] Strategic Plans and Future Outlook - The company aims to enhance its core competitiveness and achieve high-quality development by focusing on national strategic needs and advancing new productive forces by 2025[31] - The company plans to continue optimizing its supply chain management platform to improve procurement efficiency and coverage[30] - The company intends to pursue mergers and acquisitions, research and development, and joint ventures to expand its core business areas and explore new markets[172] - Future outlook remains positive, with a projected annual growth rate of 15% over the next three years[10] Employee and Management Information - The total remuneration paid to all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 16.79818 million[74] - The number of employees in the parent company is 152, while the total number of employees in major subsidiaries is 40,108, resulting in a combined total of 40,260 employees[77] - The company has focused on training core employees, especially leadership and strategically critical talent, to enhance business development and human capital[79] - The company has established a salary growth mechanism linked to business performance and labor productivity, emphasizing performance-based pay adjustments[78] Financial Position and Debt - As of December 31, 2024, the total bank and other borrowings and bonds amounted to RMB 46.786 billion, an increase of RMB 739 million from the beginning of the year[180] - The company's debt ratio was 41.97%, up from 40.67% at the beginning of the year, representing an increase of 1.30 percentage points[184] - The total amount of non-collateral loans as of December 31, 2024, was USD 70 million, EUR 221.714 million, and HKD 815 million, with significant reductions in previous year amounts[180] Acquisitions and Investments - The company completed the acquisition of 100% equity in Ning Sheng Industrial for a cash consideration of RMB 308,242.11 million on October 18, 2024[159] - The company holds various equity stakes in listed companies, with a total investment value of RMB 1,125,900 thousand, reflecting a diverse investment portfolio[162] Customer and Supplier Relations - The company’s top five customers contributed RMB 7.44 billion, accounting for 6.40% of total annual sales, with related party sales amounting to RMB 1.74 billion[134] - The company’s top five suppliers accounted for RMB 4.78 billion in procurement, representing 4.91% of total annual procurement, with related party procurement at RMB 1.69 billion[135]
专家访谈汇总:火电迎“调峰”时代,谁将成为受益者?
阿尔法工场研究院· 2025-04-27 10:24
1 、 《 光通信模块核心标的 》摘要 ■ 随着AI大模型爆发性增长(如GPT、Sora),数据中心对 高速光模块 (800G/1.6T)和相关光器件 需求激增。 ■ 中际旭创 800G产品已批量出货, 1.6T模块研发进度全球领先 ,预计2025年量产。 ■ 新易盛 400G及以下已规模化交付,800G小批量,1.6T样品发布。 3、 《 华为5G通信设备出海 》摘要 5、《 2024年全国发电设备行业十大科技创新 》摘要 ■ 作为中国首个 完全自主知识产权 的三代非能动压水堆技术,"国和一号"标志着中国在高端核电装备 领域打破技术封锁,反应堆压力容器、主泵、堆芯仪表等关键设备全面国产化,未来有望 批量化复 制 。 ■ 德国新政府取消"可信国家"限制 ,转而采用"可信技术标准",核心逻辑从"政治标签"转向"技术标 准",为华为扫清合规障碍。 ■ 华为在5G设备领域 技术先进+成本优势明显 ,替代厂商有限(如诺基亚、爱立信产能与性价比不 足)。 4 、 《 跨国巨头的数亿美元订单,被这家中国企业拿下了 》摘要 ■ 在净利率本就不高(3~5%)的背景下,供应链成本动辄占运营成本的四分之一以上,任何微小效 率的提 ...
上海电气风电集团股份有限公司2025年第一季度报告
Shang Hai Zheng Quan Bao· 2025-04-26 05:29
Financial Performance - The company reported a total of 2,505.35 MW in new orders during the reporting period, representing an increase of 461.55% compared to the same period last year [4] - Cumulative orders on hand reached 18,101.65 MW, up 98.79% year-on-year, with 4,494.40 MW of these being awarded but not yet contracted [4] Asset Impairment - The company has decided to recognize an asset impairment provision totaling 12,237.38 million RMB for the first quarter of 2025, which will reduce the operating profit by 7,743.63 million RMB after considering reversals [13] - Specific provisions include 753.57 million RMB for inventory impairment due to a decline in product sales prices and fluctuations in raw material costs [9] - The company plans to add a provision of 292.27 million RMB for contract asset impairment, which will increase operating profit by 1,216.73 million RMB after considering reversals [11] Governance and Insurance - The company is proposing to purchase liability insurance for its directors, supervisors, and senior management for the period from July 1, 2025, to June 30, 2026, with a compensation limit of up to 200 million RMB [17] - The insurance premium is expected to be no more than 900,000 RMB, including VAT [17] Shareholder Meeting - The annual shareholder meeting is scheduled for May 23, 2025, with both on-site and online voting options available [23][24] - The meeting will discuss various matters, including the independent director's annual report [25]
【财经分析】新项目验证新模式 上海电气探索绿色甲醇产业发展新路径
Xin Hua Cai Jing· 2025-04-22 12:11
上海亚化咨询有限公司创始合伙人郑春临表示,绿色甲醇市场是政策驱动的市场,国际和各国政策对绿色甲醇的需求将起到决定性作用,在"双碳"目标指引 下,绿色甲醇产业发展长期向好。 相关数据显示,当前全球范围内已有的绿色甲醇年产能约50万吨,我国绿色甲醇规划产能已超过1000万吨,产业发展势头强劲。 "当前船用绿色燃料生产项目需同时满足通过绿色认证、有竞争力的成本两大目标,对项目地点和项目资源,包括生物质资源、风光绿电资源、运输条件等 有很高的要求。因此,具备竞争力的绿色甲醇产能未来是有限的。"郑春临说。 新华财经长春4月22日电(记者王晓林)国际海事组织4月11日宣布,批准《国际防止船舶造成污染公约》附件六修正案草案,强制实施国际海事组织净零排 放框架。这是世界上首个将整个行业领域的强制性排放限制和温室气体定价相结合的框架。 近年来,使用以绿色甲醇等为代表的绿色燃料逐渐成为国际航运业响应国际海事组织要求、实现碳减排的主要手段。在此背景下,上海电气集团于2024年开 始在吉林省洮南市建设风电耦合生物质绿色甲醇一体化示范项目。依托当地新能源资源密集、土地与水资源充沛、区位交通便利等自然地理条件,以及自主 研发的核心技术, ...
上海电气:瞄准市值管理新航向
Jing Ji Ri Bao· 2025-04-22 03:06
记者日前从上海电气获悉,作为上海国资国企中的重要一员,上海电气近年来陆续通过完成整体上市、入主赢合科技、分拆电气风电上市、收购上海发那科机器人等实际行动诠释了市值管理的深 上海市国资委提出推动监管企业将市值管理融入国资国企改革,健全常态化市值维护机制,推动股票回购增持作为基础性制度安排,建立股价异常波动快速响应机制,严格规范股份减持行为。上 在投资者关系管理方面,上海电气积极利用业绩路演、投资者沟通会等多种形式,与投资者建立起了高效、顺畅的沟通渠道。据统计,上海电气坚持办高质量的投资者沟通会,去年组织境内投资 上海电气在市值管理过程中,始终将ESG(环境、社会责任和公司治理)理念融入其中。自2016年以来,公司已连续8年披露ESG报告,并获得较高国际评级。通过业务驱动和内在驱动双引擎, 上海电气相关负责人表示,未来将紧紧围绕"深化国有企业改革,持续优化国有经济布局"的战略部署,在上海国资委指导下,以"形成核心竞争力"为目标,不断巩固发展优势、培育新增长极, ...
研判2025!中国锅炉及原动机制造行业相关政策、产业链、市场规模、重点企业经营情况及未来展望:行业发展空间巨大,国产替代市场前景广阔[图]
Chan Ye Xin Xi Wang· 2025-04-21 01:07
内容概况:锅炉及原动机制造业作为通用设备领域的技术密集型产业,凭借其独特的技术复杂性、市场 适应性和管理精细化特征,在国民经济中扮演着重要角色。近年来,中国国民经济持续快速发展,国内 企业工业化水平的大幅度提高,通用设备在各个行业的需求不断增长,对通用设备等的消费需求越来越 大,从而有效拉动了锅炉及原动机制造内需市场的发展。数据显示,得益于国内工业化水平提升带来的 设备更新需求,我国锅炉及原动机制造市场规模从2015年的5174.8亿元增长至2024年的7113.8亿元,年 复合增长率为3.6%。当前,我国锅炉及原动机制造市场规模在全球占比不足10%,与发达国家相比存在 明显差距,国内锅炉及原动机制造行业发展空间巨大。在产品结构方面,国内企业正逐步突破关键技术 瓶颈,在中高端产品领域实现进口替代,未来随着技术创新能力持续提升和市场需求结构优化,锅炉及 原动机制造行业有望实现更高质量的发展。 锅炉行业基本遵循市场化发展模式。我国锅炉制造行业的产业政策管理部门是国家发展改革委,主要负 责产业政策的制定、项目审批等。目前,我国对锅炉生产实施许可证管理制度,锅炉生产企业必须申领 由国家质量检验检疫总局颁发的"制造许可 ...
上海电气风电集团股份有限公司 关于召开2024年度暨2025年第一季度业绩说明会的公告
Zhong Guo Zheng Quan Bao - Zhong Zheng Wang· 2025-04-19 03:30
登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏,并对其内容 的真实性、准确性和完整性依法承担法律责任。 ● 会议召开地点:上海证券交易所上证路演中心(网址:http://roadshow.sseinfo.com/) ● 会议召开方式:上证路演中心网络文字互动 ● 投资者可于2025年04月21日(星期一)至04月25日(星期五)16:00前登录上证路演中心网站首页点击"提问 预征集"栏目或通过公司邮箱sewc_ir@shanghai-electric.com进行提问。公司将在本次业绩说明会上对投 资者普遍关注的问题进行回答。 一、说明会类型 上海电气风电集团股份有限公司(以下简称"公司")已于2025年03月25日发布公司2024年年度报告,将 于2025年04月26日在上海证券交易所网站(www.sse.com.cn)披露2025年第一季度报告。为加强与投资 者沟通交流,使投资者更加全面、深入地了解公司情况,公司将以网络文字互动的方式召开业绩说明 会,针对2024年度及2025年第一季度的经营成果及财务指标的具体情况与投资者进 ...
上海电气(601727) - 上海电气关于土地收储的进展公告


2025-04-18 09:37
近日,上海市闵行区江川路街道办事处、上海市闵行第一房屋征 收事务所有限公司已与公司就本次收储签订《非居住房屋拆迁补偿协 议》。 证券代码:601727 证券简称:上海电气 编号:临 2025-026 上海电气集团股份有限公司 关于土地收储的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏,并对其内容的真实性、准确性和完整性承担法律责任。 一、交易概述 2024 年 12 月 30 日,上海电气集团股份有限公司(以下简称"公 司")董事会五届一百零四次会议审议通过《关于上海市沪闵路 1111 号土地收储的议案》,同意公司将持有的上海市沪闵路 1111 号土地使 用权由上海市闵行区江川路街道办事处实施收储,收储总价为人民币 39,561.57 万元。 关于上述土地收储事项的具体情况,详见公司于 2024 年 12 月 31 日在上海证券交易所网站(www.sse.com.cn)披露的相关公告。 二、交易进展情况 由于签约时间的变化,公司已披露的拟签订协议中,"除上述补 偿外,若公司在 2025 年 2 月 28 日前签订《非居住房屋拆迁补偿协 议》,且公司妥善处理好租赁户 ...
上海电气(601727) - 上海电气关于回购A股股份事项前十大股东和前十大无限售条件股东持股情况的公告


2025-04-17 10:31
证券代码:601727 证券简称:上海电气 编号:临 2025-025 上海电气集团股份有限公司 2、"持股比例",按公司截至本公告日的总股本 15,579,809,092 股 计算。"股份种类"中,A 股指人民币普通股,H 股指境外上市外资 股。 根据《上市公司股份回购规则》、《上海证券交易所上市公司自律 监管指引第 7 号——回购股份》等相关规定,现将公司董事会披露回 购股份决议前一个交易日(即 2025 年 4 月 10 日)登记在册的前十大 股东和前十大无限售条件股东的名称、持股数量及持股比例公告如下: | 序号 | 股东名称 | 持股数量(股) | 持股比例 | 股份种类 | | --- | --- | --- | --- | --- | | 1 | 上海电气控股集团有限公司 | 6,400,435,385 | 41.08% | 股 A | | 2 | 香港中央结算(代理人)有 | 2,920,048,970 | 18.74% | H 股 | | | 限公司 | | | | | 3 | 上海国有资本投资有限公司 | 707,399,555 | 4.54% | A 股 | | 4 | 申能(集团)有限 ...